FISCAL: Smith for Bell

In a headline huff, Lewis Douglas walked out
on the job of director of the Budget when he decided that the New Deal
would be no economy administration. That was in August 1934. Franklin
Roosevelt, who perhaps did not care for another such troublesome
officer, did not bother to refill the post. So Daniel W. Bell, a pudgy,
self-effacing Treasury careerist, became Acting Budget Director and
remained so until last week when his successor was named.

Danny Bell's stepping down will mean just one thing: he still thinks of
himself as the graduate...